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IGI Insurance income down by 149.8%

The first quarter of 2013 proved to be a bad period for IGI Insurance, which reported net premium revenues of Rs265.6 million up by only 10.7% compared to the corresponding period in 2012.According to a notice sent to the Karachi Stock Exchange (KSE) the slight increase in premium revenues was offset by a rapid surge in net claims, which rose ... Read More »

Board Meeting announcement by Silver Star Insurance

silver star

The Board Meeting of Silver Star Insurance Company held yesterday at Company’s Head Office, 5-Bank Square, Lahore, to consider the First Quarterly (Un-audited) Accounts for the period ended 31st March, 2013.As required by Clause xxvi of the Code of Corporate Governance, the close period to the announcement of the First Quarterly results for the period ended 31st March 2013 has ... Read More »

EFU General Investment income increased


EFU General Insurance announced its financial result for the first six months of 2013, according to which, its after-tax profit decreased 28% to Rs585.8 million compared to last year’s corresponding period.However, the after-tax profit for three months ended June 30 increased to Rs357.5 million after recording a rise of 65.8% over the similar period in 2012.The rise in the three-month after-tax profit is because of a phenomenal increase in the company’s investment income, which surged from Rs5.1 million to Rs237.7 million on a year-on-year basis. Read More »

Muhammad Ali Zeb Again appointed Adamjee Insurance Chief Executive

Muhammad Ali Zeb

Once again Mr.Mohammad Ali Zeb was appointed the Chief Executive/ Managing Director of Adamjee Insurance with effect from June 4, 2013 in place of Mr. Manzar Mushtaq. Read More »

National Insurance Companies are on top of the privatisation priority list


The government has decided to speed up the privatisation of State Owned Enterprises (SOEs) and directed the Privatisation Commission to review the privatisation schedule so as to accelerate the process. An official said the privatisation of Pakistan International Airlines, Pakistan Steel Mills, insurance companies, Utilities Stores Corporation, Power Distribution Companies and National Insurance Companies are on top of the privatisation ... Read More »

NICL removes 56 employees illegally


KARACHI: In a surprise move 56 employees, including directors, assistant directors, managers, deputy managers, drivers and peons of the National Insurance Corporation Ltd (NICL), were illegally removed from their posts and at the same time preparations are afoot for new appointments on these vacated posts. Read More »

Crop survey begain for Compensation


Provincial Parliamentary Secretary on Agriculture Ijaz Ahmad Noon ordered EDOs agriculture of flood-hit districts to complete a survey of crop area early to ensure in time payment of compensation to farmers.He ordered officials to aware farmers in flood-affected areas where water was receding on how to protect their crops and orchards in post-flood situation. Rana Ijaz Noon said a crop ... Read More »

Insurance Industry to create awareness on benefits of insurance cover


A day after an earthquake measuring 7.8 on the Richter scale hit parts of Iran and Pakistan, the Karachi Insurance Institute organised a meeting at the local press club to mark Insurance Day, which will be celebrated on April 18 (today) every year henceforth. A day after an earthquake measuring 7.8 on the Richter sca Read More »